A Uniform Commercial Code filed in August 2014 ties the mother of suspended Kansas basketball player Cliff Alexander to a finance company that, according to its website, specializes in loans to professional athletes and agents, Yahoo Sports has learned.
On Aug. 25, 2014, a UCC filing was made in the state of Illinois under the name of Latillia Alexander of Chicago, Cliff Alexander’s mother. The filing is publicly accessible on the Illinois Secretary of State website. The securing party is listed as Ludus Capital of Delray Beach, Fla.
Among the types of financing extended by Ludus Capital, which has offices in Florida and New York: draft loans to potential high draft picks in the NBA and NFL. However, the loans are extended to athletes after they have declared for the draft. In August, Alexander was just starting his freshman year at Kansas.
Loans based on future earning potential can violate NCAA rules for student-athletes.
Registered NBA agents often work in concert with financial firms to secure money for families. These firms also recruit prospects independently.
Alexander missed his third straight game Saturday for what Kansas has called an “NCAA issue.” Multiple sources told Yahoo Sports on Thursday that the issue is a family member who may have received an impermissible benefit.
Alexander’s family took meetings with NBA agents during August, sources said. Discussions with agents for the purpose of gaining information on a player’s market value do not violate NCAA rules, but entering into a written or verbal agreement and receiving compensation is a violation.
Alexander has not yet been interviewed by the NCAA, sources said, though not because of a reluctance by either the school or NCAA investigators. Sources said legal counsel has been retained by the Alexander family and that may be slowing the investigative process.
Alexander will not be reinstated until after an NCAA interview occurs and a decision is made on whether benefits received by his family are impermissible. If it is ruled that a violation occurred, Alexander's eligibility for the remainder of the season could be affected.
“The only thing I would say: I think we all would just hope that all the parties would get on the same page, cooperate and do what needs to be done to give him a chance to be back out on the court,” Self said. “That’s not putting anybody down.
“They’ve kept me in the dark somewhat because of the way the NCAA requires them to handle the situation. But the bottom line is, I just wish everybody would get together and talk it out. If there’s a problem, deal with the problem, but don’t run from it.”
Self was asked if there was a way to potentially speed up the process with the postseason nearing.
“I think there is a way to expedite it, and the way to expedite it is for everybody to be on the same page: ‘Hey, this is what happened,’ ” Self said. “But to have everybody willingly — all the parties, whether it be Kansas or the family or the NCAA — have all the parties on the same page: ‘Let’s everybody work together to find out the details so a ruling can be made.’
“If the ruling’s negative, then it’s negative. The kid’s going to have no chance to play in the NCAA Tournament, is going to have no chance to do what he came to college for, (has) got no chance to help his teammates and that kind of stuff if, in fact, all the parties can’t get in the same room and work it out.”
Self admitted to being agitated by the uncertainty of the situation.
“I’m hopeful that everybody … ‘Let’s just do it,’ ” Self said. “Then whatever happens, we’ll deal with it. At least that’s how I see it.
“I’m not putting any blame on anybody. It’s just frustrating to wake up every day and say, ‘Well, where is this at?’ Basically, it’s status quo.”
“Here’s the deal,” Self said. “If it doesn’t happen this season, it’s done. If you’re not going to do it to give (yourself) a chance to play in the NCAA Tournament, what makes you think you’re gonna do it in the offseason to give yourself a chance to play (next season)?”
[For those interested, some additional reading on somewhat "similar" incidents:]